US regulators approve News Corp's takeover of DirecTV

0 Comments | AFP, December, 2003

WASHINGTON (AFP) — US regulators approved News Corp's takeover of GM Hughes Electronics, the parent of satellite giant DirecTV, in a 6.6 billion dollar deal.

The Justice Department said in a statement that it would not challenge the deal, following the approval of the Federal Communications Commission.

The FCC did impose certain conditions on News Corp's licensing of regional sports networks and granting of retransmission consent for its Fox Broadcasting Network, the statement said.

"We're delighted to have received clearances from the FCC and DOJ and we intend to close this transaction with GM in the next few days," News Corp chief Rupert Murdoch and the former co-chief operating officer Chase Carey said in a statement.

"Combining Hughes'...